MobileCoin Raises $66m To Scale Its Simple, Safe, And Fast Payment Technology

SAN FRANCISCO, Aug. 18, 2021 /PRNewswire/ -- MobileCoin, a safe and easy digital payments ecosystem, today announced the closing of its $66 million Series B to further develop MobileCoin technology, with participation from Alameda Research, Berggruen Holdings, BlockTower Capital, Coinbase Ventures, General Catalyst, Marc Benioff's TIME Ventures, and Vy Capital. MobileCoin is a fast, safe, and easy-to-use payment technology that gives everyone the ability to transact digitally from nearly anywhere in the world. 

The round will be used to further develop MobileCoin's products, including MOBot, the first cryptocurrency chatbot payment system, the company's Merchant Services buildout, and the rollout of its initial stablecoin, whose value will stay constant with the US dollar. In addition, MobileCoin will continue to support its Signal deployment, as well as make it easier for additional mobile messaging and communications applications to add cryptocurrency payments between their users, as well as support further autonomous systems.

Representing a mix of venture firms, cryptocurrency technology companies, notable entrepreneurs, investors, and artists, additional participants in the round include Suzy Ryoo, Troy Carter & J. Erving, Rodney "Darkchild" Jerkins, Brent Faiyaz, Jayne Andrew & Ty Baisden, Tunde Balogun, Aglaé Ventures, DreamCrew, Matt Mullenweg, Jesse Robbins, James Lindenbaum, Gaingels, and 10X Capital.

MobileCoin differentiates itself in a crowded payments landscape with its unique value proposition: 

• Mission-driven: MobileCoin is a mission-founded company, focused on democratizing privacy for all. MobileCoin aims to build the future of digital payments in an accessible and sustainable way.
• Easy-to-use: MobileCoin transactions are one of the fastest in the world, completing in just seconds, giving senders and receivers peace of mind and minimizing risk. The technology was built for mobility and convenience, with payments occurring right on your phone.
• Private and secure: The company puts privacy first, with an opaque ledger and cryptographically protected transactions. The network uses forward secrecy to keep data from being compromised, ensuring that private information remains private. Unlike other cryptocurrencies, MobileCoin was built to ensure that digital wallets can be easily recovered - and not lost forever. Even if merchants or users lose their phone, they can recover their account balance and transaction history by simply loading their account onto a new phone.
• Environmentally-friendly: As the most environmentally friendly payment technology today, MobileCoin uses a network consensus model (Federated Byzantine Agreement) that requires near-zero energy to run.
• Supporter of the arts: MobileCoin embodies a culture surrounding the cultivation of the arts. Given that privacy is integral to the act of creation, art and culture arise when given a safe space to flourish. This shared passion among the MobileCoin team is exemplified in MobileCoin Radio and the MobileCoin Art Residency.

MobileCoin is available today on exchanges like FTX, Bitfinex, BigOne, and HotBit for non-US persons. 

About MobileCoin
Mission-driven, MobileCoin is democratizing the digital payment system by enabling lightning-fast, sustainable and easy global transactions. Guided by the belief that privacy is a right, MobileCoin leverages encrypted blockchain, an opaque ledger, and cryptographically protected transactions. Development of the MobileCoin ecosystem is spearheaded by the MobileCoin Foundation. The company is headquartered in San Francisco. For more information, please visit mobilecoin.com.

SOURCE MobileCoin